Published: 2025-01-22T02:58:46.000Z
Chart USD/MYR Update: Extending losses
Technical Analyst
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Prices remain under pressure to extend losses from the 4.5165 high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5325 | * | 61.8% 2024 fall | S1 | 4.4360 | 29 Nov low | ||
| R3 | 4.5165 | ** | 6 Jan YTD high | S2 | 4.4160 | ** | Dec low | |
| R2 | 4.5000 | * | congestion | S3 | 4.4000 | * | figure, congestion | |
| R1 | 4.4850 | * | congestion | S4 | 4.3800 | * | 8 Nov low |
Asterisk denotes strength of level
03:00 GMT - Prices remain under pressure to extend losses from the 4.5165 high and unwind the overbought daily and weekly studies. Break of the 4.4540 support see room for deeper pullback to retrace rally from the September low. Nearby see room to the 4.4360 support then the 4.4160, December low. Lower still, will see scope to the 4.4000/4.3800 congestion and 8 Nov low. Meanwhile, resistance is lowered to the 4.4850/4.5000 congestion area which is expected to cap and sustain losses from the 4.5165 high.